Avondale to Purchase Kansas Oil & Gas Leases
Avondale Resources plans to acquire oil and gas leases in Montgomery County Kansas currently owned by Midcontinent Investments Corporation. The leases consist of approximately 3,000 acres with some existing infrastructure and the Company estimates there may be 1,500 to 2,000 wells. A small percentage of the wells are currently producing with access to existing disposal infrastructure. Company plans consist of well re-activation on the entire lease acreage with equipment upgrades. Re-activation of these wells commences following the Company's raising sufficient capital for such re-activation.
Avondale Resources Corporation is an oil and gas exploration
company actively seeking to acquire and develop additional oil and gas
properties in Kansas and Oklahoma. Company plans are to develop oil
and gas assets through enhancement of mature fields, marginal wells
and close-in drilling.